Kennametal Announces Layoffs, Catalog Divestiture

Latrobe, PA–Industrial supplies manufacturer/marketer Kennametal, which owns the J&L America industrial supplies catalog, plans to lay off up to 250 people, or 6%-8% of its salaried staff. “Our salaried work force currently is configured to support higher demand than we are realizing,” said president/CEO Markos Tambakeras in a statement. “We’re positioning ourselves to outperform when the markets improve.”

Kennametal also announced that it sold off J&L’s ATS Industrial Supply division. The sale represents a net book loss of $3 million.

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